Aunt Jane: "There once was a man named Trent"

There once was a man named Trent

Who hated to part with a cent

Until he met a spender of the opposite gender

Now he's not saving, he's spent

~ Aunt Jane, cousin of Ernest Duffy (my grandfather), at the age of 98, December 13, 2010

Doug Casey: "the entire country has been greatly over-financialized

The entire country has been greatly over-financialized.  It's all about credit and manipulating interest rates and propping up the bond market and floating government debt and so forth.  In a stable, capitalist, free market society, people produce and they consume and they save, but it's not a question of, "Hello, New York, buy.  Hello, Chicago, buy.  Hello, Los Angeles, sell."  Watching the screen all day...  People aren't producing as opposed to gambling.  And as inflation gets out of control, which it will, they're going to be forced to try to speculate to stay ahead of the destruction of their money.  And after a while it becomes no point in saving because your savings vanish before your very eyes.  And that destroys the actual structure of society.  This is much more serious than the talking heads mention on TV.

~ Doug Casey, interview with Dan Ferris, Stansberry Investor Hour, 35:15 mark, July 11, 2022

Warren Buffett on saving

Do not save what is left after spending. Spend what is left after saving.

~ Warren Buffett

Samuel Smiles defines the capitalist

The capitalist is merely a man who does not spend all that is earned by work.

~ Samuel Smiles, Thrift (1875)

Ben Franklin on thrift

Your net worth is determined by what remains after your bad habits are subtracted from your good habits.

~ Ben Franklin

Benjamin Franklin
1902-1903

Associated Press on the trouble with saving

Americans are hunkering down and saving more. For a recession-battered economy, it couldn't be happening at a worse time.

Economists call it the "paradox of thrift." What's good for individuals -- spending less, saving more -- is bad for the economy when everyone does it.

~ Associated Press, "Rise in savings hurting economy," February 2, 2009, by Martin Crutsinger

Ben Bernanke on foreign reserves

Over the past decade a combination of diverse forces has created a global savings glut.

~ Ben Bernanke, Chairman Federal Reserve, Wall Street Journal, December 30, 2006